Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm, is pleased to announce a partnership with AquaPhoenix Scientific (“AquaPhoenix” or the “Company”), a value-added distributor and private label manufacturer of water treatment testing products to the industrial and education end markets.
Based in Hanover, PA, AquaPhoenix provides water testing kits, calibration reagents and feed and control equipment for companies servicing industrial boilers and cooling towers. Additionally, the Company works with curriculum developers to source, assemble and distribute chemistry, biology and physics education kits.
“Since founding the business in 2003, we have remained dedicated to providing best-in-class service to our customers and promoting a culture of continuous improvement for our employees,” said Frank Lecrone, President & CEO of AquaPhoenix. “We were seeking a partner that aligned with our core values and had meaningful experience supporting entrepreneurs in their next phase of growth. With Incline’s resources and guidance, we will invest in technology to improve operational efficiency and business processes to more effectively serve our customers and accelerate growth.”
“We are thrilled to have the opportunity to partner with Frank and the AquaPhoenix team,” said John Morley, Partner with Incline. “The Company offers a compelling value proposition to its diversified customer base through its superior product quality, strong customer service, robust fulfilment capabilities and an unmatched product breadth. AquaPhoenix’s strong brand and proven track record of acquisitions make them an excellent consolidation platform and well-positioned to explore logical targets in highly fragmented, adjacent markets. We look forward to working with the Company to strengthen its market position and navigate multiple avenues of growth.”
About Incline Equity Partners:
Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private equity firm investing in manufacturing, distribution and business services companies. Incline is generally seeking growing companies with enterprise values of $25 – $450 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.
Disclaimer:
Incline Management, L.P. (“IMLP”) is registered with the U.S. Securities and Exchange Commission as an investment adviser under the U.S. Investment Advisers Act of 1940, as amended. Registration as an investment adviser does not imply a certain level of skill or training. IMLP provides investment advisory services only to privately offered funds. IMLP does not solicit or make its services available to the public or other advisory clients. This press release is intended solely to provide information regarding Incline’s potential capabilities for prospective portfolio companies, and is not an offer to sell to any person, or a solicitation from any person of an offer to buy, any securities. The statements contained herein are not statements of any IMLP client fund or investor and do not describe any experience with or endorsement of IMLP as an investment adviser by any such client or investor.